By Linton Johnson email@example.com
The mayor and council of the City of Elberton have notified the Development Authority of Elbert County, Elberton and Bowman of the city’s intention to execute a contract option to purchase the presently unoccupied portions of the Elberton Industrial Park for the amount of $1.
Elberton Mayor Larry Guest told WSGC News he handed a letter signed by him and all five members of the City Council, along with a city check for $1, to Development Authority Chairman Jim Stovall on Wednesday, fulfilling what the city claims is its obligation to purchase the unused land, which the mayor said totals about 140 acres off Mineral Springs Road.
Guest said the city purchased the industrial park property in 1996 from the Coggins Land Company for $450,000, at an annual interest rate of 7 percent, and in the years since has invested approximately $1 million for roads, utilities, water and other improvements.
The Development Authority has deeded portions of the property to a number of industries, including present occupants MollerTech, Bubba Foods, the MEAG Power substation and Hailo. Only the unused property will be transferred to the city under the contract terms, the mayor said. The city’s letter asks the Development Authority to execute the deed transfer within 10 days.
Relating the contents of the letter, Guest said, “It is our desire to work with the authority and other partners to develop the land in the industrial park. “We hope they will continue to market this land for economic development and job creation, and the city will continue to make it available for prospects or projects as we have in the past. We understand they are planning a speculative building along with the county, and we want to work with them on this development at an appropriate site location in the Elberton Industrial Park. We are prepared to begin those discussions at any time.”
Development Authority Chairman Jim Stovall, speaking to WSGC News by phone while traveling out of state, acknowledged receipt of the city’s letter and said he would not have any public comments until he returns on Monday. He said the Development Authority will discuss its course of action when the board holds its regular meeting on Oct. 11.